Versant (media company)

Versant

Area served	Worldwide
Services	Broadcasting Television
Parent	Comcast (33%)
Subsidiaries	Fandango Media (75%)

On October 31, 2024, Comcast president Michael J. Cavanagh disclosed that the company was exploring a plan to spin-off NBCUniversal's cable networks as a new company,. He explained that "like many of our peers in media, we're experiencing the effects of the transition of our video businesses and have been studying the best path forward for these assets", and that such a spin-off would "position them to take advantage of opportunities in the media landscape and create value for our shareholders."^[2] Just under a month later on November 20, Comcast officially announced that it would spin off most of NBCUniversal's cable networks and selected digital properties into a new publicly traded company led by Mark Lazarus, then-chairman of the NBCUniversal Cable Entertainment Group.^[3] Initially referred to under the interim name "SpinCo", on May 6, 2025, it was announced that the company would be known as Versant.^[4]

Versant will consist of cable networks such as USA Network, MSNBC, CNBC, and E! among others, as well as digital properties such as a 75% stake in Fandango Media (owner of the titular online movie ticket retailer and digital movie store, and film review aggregator Rotten Tomatoes), and SportsEngine (a technology platform for youth sports organizations, currently part of NBC Sports Digital). The aim of the spin-off is to separate these linear television networks and digital properties from NBCUniversal's flagship film (Universal Studios), television (NBC and Telemundo), streaming (Peacock), and theme park (Universal Destinations & Experiences) businesses, while providing them with the ability to make their own further investments and acquisitions.^[3]^[5] Bravo will remain under NBCUniversal ownership, as the network is a major provider of content to Peacock.^[3] Universal Kids was also excluded; NBCU later announced that it would shut down on March 6, 2025.^[6]

Lazarus explained that Versant will be treated as a holding company and "house of brands"; a larger focus will be placed upon its individual properties rather than Versant being a public-facing brand, and decisions on digital operations (such as streaming) will be left to each network.^[4]^[7] He did not rule out investments into non-media properties that could compliment and be cross-promoted with Versant's networks, citing existing examples such as the Golf Channel-owned reservations platform GolfNow.^[8]^[4]

Questions were raised over how the spin-off will impact the synergies between Versant and the legacy divisions being retained by NBCUniversal, such as whether they would still be able to leverage resources from the NBC News and NBC Sports divisions, or use the NBC name.^[3]^[5]^[9]^[10] Under its new president Rebecca Kutler, MSNBC began expanding its newsgathering resources and Washington staff so it could operate with increased autonomy from NBC News.^[11]^[12]^[13] Versant will lease space for CNBC and MSNBC's Washington, D.C. bureaus at NBC's existing facility on 400 North Capitol.^[1] NBCUniversal will also provide advertising sales for Versant channels for two years after the completion of the spin-off.^[14]

NBC Sports president Rick Cordella stated that the division would "fulfill every obligation" it has with networks that are part of the spin-off, suggesting they will still carry programming covered under current contracts (such as the Olympic Games and PGA Tour).^[15] On the other hand, Lazarus stated that Versant was considering pursuing its own sports rights, with a focus on properties that "drive distribution, diversify ad sales and have a value".^[16] In August 2025, NBCUniversal and Versant renewed their rights to United States Golf Association (USGA) championships from 2027 through 2032, with USA Network and Golf Channel continuing to serve as the cable television home of the events post-split. It is the first major media rights deal negotiated by Comcast to incorporate Versant.^[17]^[18]^[19]

On August 18, 2025, Versant announced that multiple rebrandings would occur to remove the overt use of NBC trademarks from its properties; MSNBC will be rebranded as "MS NOW" (a backronym of "My Source [for] News, Opinion, [and the] World"), CNBC and Golf Channel will introduce new logos without the NBC logo (CNBC was originally branded as the "Consumer News and Business Channel"), and a "USA Sports" brand will be reintroduced to encompass Golf Channel and sports broadcasts on USA Network.^[20]

Versant (media company)

History

Ownership

Assets

References

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